PALO ALTO, California — The new entry-level 2015 Tesla Model S 70D electric sedan debuted on Wednesday with a price tag of $76,070, including a $1,170 destination charge.
It is on sale now, with delivery expected in late May.
Pricing does not include a $7,500 federal tax credit.
The Model S 70D is $5,000 more expensive than the outgoing Model S 60 and features a number of improvements. They include all-wheel drive, a longer range of 240 miles and better performance.
Standard features include lane-departure warning, automatic keyless entry and parking sensors.
The new entry-level Model S gets its name from a 70kWh battery pack and dual electric motors rated at a combined 514 horsepower.
Tesla also unveiled three new colors for the Model S. They are Ocean Blue, Obsidian Black and Warm Silver.
The new entry-level Model S debuts a few months ahead of the launch of the 2016 Tesla Model X.
Edmunds says: Model S buyers will have to deal with a price increase, but end up with a better value proposition.